EXHIBIT 12
Cinemark USA, Inc.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Period from | Year Ended | Three Months | |||||||||||||||||||||||||||||||
| January 1, 2006 to | Period from | December 31, | Ended March 31, | ||||||||||||||||||||||||||||||
| October 4, 2006 | October 5, 2006 to | 2007 | 2008 | 2009 | 2010 | 2010 | 2011 | ||||||||||||||||||||||||||
| (Predecessor) | December 31, 2006 | (Successor) | (Successor) | ||||||||||||||||||||||||||||||
Computation of earnings: | |||||||||||||||||||||||||||||||||
| Pretax income from continuing operations before equity income (loss) | $ | 75,019 | $ | (7,129 | ) | $ | 246,323 | $ | 18,015 | $ | 196,798 | $ | 212,969 | $ | 57,053 | $ | 32,355 | ||||||||||||||||
| Add: | |||||||||||||||||||||||||||||||||
| Fixed charges | 70,293 | 45,838 | 165,887 | 140,533 | 152,843 | 188,432 | 44,650 | 48,941 | |||||||||||||||||||||||||
| Amortization of capitalized interest | 354 | 117 | 474 | 489 | 496 | 496 | 124 | 124 | |||||||||||||||||||||||||
| Distributed (income) losses of equity investees | (1,800 | ) | 154 | (2,462 | ) | (2,373 | ) | (907 | ) | (3,438 | ) | 27 | 2,438 | ||||||||||||||||||||
| Pre tax losses of equity investees for which charges arising from guarantees are included in fixed charges | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
| Less: | |||||||||||||||||||||||||||||||||
| Capitalized interest | (86 | ) | — | (618 | ) | (270 | ) | — | — | — | — | ||||||||||||||||||||||
| Preference security dividend requirements of consolidated subsidiaries | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
TOTAL EARNINGS | $ | 143,780 | $ | 38,980 | $ | 409,604 | $ | 156,394 | $ | 349,230 | $ | 398,459 | $ | 101,854 | $ | 83,858 | |||||||||||||||||
Computation of fixed charges: | |||||||||||||||||||||||||||||||||
| Interest expense | $ | 35,887 | $ | 30,833 | $ | 99,446 | $ | 71,067 | $ | 77,515 | $ | 107,728 | $ | 24,829 | $ | 28,106 | |||||||||||||||||
| Capitalized interest | 86 | — | 618 | 270 | — | — | — | — | |||||||||||||||||||||||||
| Amortization of debt issue costs | 2,106 | 847 | 3,314 | 3,339 | 4,094 | 4,716 | 1,181 | 1,184 | |||||||||||||||||||||||||
| Interest factor on rent expense | 32,214 | 14,158 | 62,509 | 65,857 | 71,234 | 75,988 | 18,640 | 19,651 | |||||||||||||||||||||||||
TOTAL FIXED CHARGES | $ | 70,293 | $ | 45,838 | $ | 165,887 | $ | 140,533 | $ | 152,843 | $ | 188,432 | $ | 44,650 | $ | 48,941 | |||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES(1) | 2.05 | — | 2.47 | 1.11 | 2.28 | 2.11 | 2.28 | 1.71 | |||||||||||||||||||||||||
| (1) | For the purposes of calculating the ratio of earnings to fixed charges, earnings consist of income (loss) from continuing operations before taxes plus fixed charges excluding capitalized interest. Fixed charges consist of interest expense, capitalized interest, amortization of debt issue cost and that portion of rental expense which we believe to be representative of the interest factor. For the period from October 5, 2006 to December 31, 2006, earnings were insufficient to cover fixed charges by $6.9 million. |